Instructions

ZOOM IN by clicking on the page. A slider will appear, allowing you to adjust your zoom level. Return to the original size by clicking on the page again.

MOVE the page around when zoomed in by dragging it.

ADJUST the zoom using the slider on the top right.

ZOOM OUT by clicking on the zoomed-in page.

SEARCH by entering text in the search field and click on "In This Issue" or "All Issues" to search the current issue or the archive of back issues
respectively.
.

PRINT by clicking on thumbnails to select pages, and then press the
print button.

SHARE this publication and page.

ROTATE PAGE allows you to turn pages 90 degrees clockwise or counterclockwise.Click on the page to return to the original orientation. To zoom in on a rotated page, return the page to its original orientation, zoom in, and
then rotate it again.

CONTENTS displays a table of sections with thumbnails and descriptions.

ALL PAGES displays thumbnails of every page in the issue. Click on
a page to jump.

Superfunds May 2015
and the benefits for members from increased
scale have led to a dramatic reduction in the
number of funds. This consolidation has allowed
scale benefits to be achieved and, importantly, has
led to fund members being able to access an array
of information and transaction services supported
by new and better technology,” he says.
Clare notes that the number of APRA-regulated
funds has slumped from more than 3,000 to
around 300. “This has been accompanied by the
consolidation of service providers. Superannuation
administration has become more of a commodity
rather than being crafted individually for each
fund. Constant regulatory and other change and
the need for electronic capabilities have increased
the need for investment in IT, with this more
affordable for large administrators
who are able to spread the costs over many fund
members.”
IMPACT ON INNOVATION
Gee is also concerned about innovation in the
next few years as Superpartners clients migrate
to AAS, but also as many other major providers,
such as Mercer and Pillar, undergo major systems
upgrades.
“It will be unlikely that these players will be
able to support substantial product innovation
and development for the next two years,” he
says.
But Link’s Holden argues that consolidation
will lead to greater innovation. “Growth in our
business through scale enables us to double
the investment in our technology and people to
provide new products and services, with benefits
to all our clients.”
Holden says Link and AAS are developing
a number of product enhancements that will
directly improve member experience as they
transition from the accumulation phase to
pensions. It is also looking at enhancements to its
claims process and other programs to ensure its
contact centre staff can offer individualised and
targeted services to members.
Mercer’s Knox says that he doesn’t believe
the consolidation or systems upgrades will be
a barrier to innovation. He notes that Mercer’s
new longevity product is offered through any
administration platform. “We will still see
innovation,” Knox says.
He adds that funds are also increasingly
focused on data. “That’s not going to stop while
AAS and Superpartners merge.”
A TRANSITION PERIOD
Link has already begun the integration of
Superpartners with AAS. The transition will take
around two years and require the migration of all
the clients of Superpartners across to AAS’ aaspire
platform.
Link has appointed the CEO of IQ Group,
Graham Sammells, as the head of integration
to oversee the project. “We are confident that
we will soon start to achieve benefits for all our
clients,” says Holden.
Holden acknowledges there has been
a cautious attitude associated with the
Superpartners merger. “But funds understand
that consolidation is inevitable in our industry
and that, ultimately, scale will provide significant
benefits for all our funds and their members,
through increased investment in technology, new
products and services and access to an increased
pool of talent,” she says.
Ben Power is a freelance journalist.
Do you have something to say about
this article? Let us know. Email
superfunds@superannuation.asn.au